Micron Is Worth $1.1 Trillion and Sits 23% Below Its 52-Week High. Is the Stock a Buy?
The memory maker's earnings keep setting records, and its guidance points to another one. The stock sits about 23% below its high anyway.
Overview
Micron Technology (NASDAQ: MU) hasn't reported a quarter since late June. The memory specialist's stock has still given back about 23% from its 52-week high. For a company valued at $1.1 trillion today, that drawdown works out to more than $300 billion of market value.
In other words, the price moved a long way on no new numbers. So what is the sell-off pricing: a memory cycle that has already peaked, or a pause inside one that hasn't?
Image source: Micron.
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Originally published at www.fool.com.
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